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Eversheds Sutherland Estonia advised the buyer of Forum Cinemas cinema business

  • Estonia

    01-09-2020

    Eversheds Sutherland Estonia advised UP Invest on the acquisition of Forum Cinemas in Estonia, Latvia and Lithuania. According to the buyer, while UP Invest is well-represented by Apollo Group in the Estonian cinema market, Forum Cinemas would enable the company to solidify its position in the Latvian and Lithuanian markets. The aim of the purchase is to bring the finest technological solutions to all Forum Cinemas and Apollo cinemas as to provide entertainment of the highest quality to the visitors.

    The parties are looking to finalise the contract by the end of the year or the beginning of next year at the latest. The acquisition will enter into force after getting an approval from the Estonian, Latvian and Lithuanian competition authorities. Eversheds Sutherland Estonia advised (is advising) the buyer throughout all stages of the transaction, including due diligence, acquiring clearances from the competition authorities, and drafting up contracts.

    Forum Cinemas OÜ is the largest cinema operator in the Baltics with cinemas in Tallinn (Coca-Cola Plaza), Tartu (Ekraan) and Viljandi (Centrum). Forum Cinemas has one cinema in Latvia and five in Lithuania. Investment company UP Invest focuses on healthcare, media, real estate, and retail investments as well as cleantech venture capital investments.

    The advisors in this transaction included Managing Partner Maivi Ots, Partner Risto Rüütel, Associate Taavi Kõiv and Lawyers Erika Tuvike ja Kristi Jõemets.

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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